The Carlyle Group Raises $1.1 Billion for First Financial Services Fund; With Three Investments Already Made, Team Sees Range of Fresh Opportunities

New York - Global private equity firm The Carlyle Group today announced it has raised $1.1 billion for its first financial services fund, Carlyle Global Financial Services Partners (CGFSP). The Financial Services team, which has made three investments to date, focuses on financial services companies around the world, including banks, insurance companies, asset managers and financial service providers.

"We are grateful for the support of our investors and the confidence they have placed in us. We have been exceptionally disciplined and have maintained our focus on investing where we can add the most value: mid-market and regional financial institutions that need both additional capital and the confidence that comes with an investment from Carlyle," said P. Olivier Sarkozy, Carlyle Managing Director and Head of the Financial Services team.

Carlyle Co-Founder David M. Rubenstein said, "Olivier and his team have made three promising investments already, which, for a first-time fund, demonstrated to investors along the way that we had assembled a talented group at the right time to capitalize on a range of opportunities in the financial services space."

In June 2007, Carlyle established its Global Financial Services Group, which now has 12 investment professionals, including Managing Directors James Burr, former Corporate Treasurer of Wachovia Bank, and Randal K. Quarles, former Under Secretary of the U.S. Treasury for Domestic Finance.

From offices in New York and Washington, DC, the team reviews a broad range of financial services opportunities around the globe, leveraging its blend of operational and financial expertise and industry relationships to generate opportunities on behalf of its limited partners with attractive risk adjusted returns.

CGFSP has made three investments, comprising 30 percent of its fund: Bank of N.T. Butterfield & Son Limited (3/2010); BankUnited (5/2009) and Boston Private Financial Holdings, Inc. (NASDAQ: BPFH) (8/2008).

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